| | Business Summary | | Hormel
Foods
Corporation
is
engaged
primarily
in
the
production
and
marketing
of
a
variety
of
meat
and
food
products
that
are
sold
fresh,
frozen,
cured,
smoked,
cooked,
and
canned.
Pork
is
the
major
raw
material
for
Hormel
products,
however
for
several
years,
the
Company
has
emphasized
the
manufacture
and
distribution
of
branded,
consumer
packaged
items
rather
than
the
commodity
fresh
meat
business.
The
Company
also
provides
a
variety
of
branded
turkey
products
produced
and
sold
under
the
Jennie-O
label,
and
ethnic
foods
such
as
the
Chi-Chi's
line
of
Mexican
foods,
House
of
Tsang
oriental
sauces
and
food
products,
and
Mediterranean
food
products
under
the
Marrakesh
Express
and
Peloponnese
labels. | | Financial Summary | | Hormel
Foods
Corporation
is
primarily
engaged
in
the
production
of
a
variety
of
meat
and
food
products
and
the
marketing
of
those
products
throughout
the
U.S.
For
the
fiscal
year
ended
10/30/99,
net
sales
increased
3%
to
$3.36
billion.
Net
income
increased
17%
to
$163.4
million.
Revenues
benefitted
from
increased
sales
of
branded
products.
Net
income
also
benefitted
from
a
lower
effective
tax
rate
and
increased
interest
and
investment
income. | | | | FY1998 Pay | |
| Joel Johnson, 55
Chairman,
Pres and CEO | $1.4M | Don Hodapp, 60
Exec.
VP and CFO | 751K | Gary Ray, 52
Exec.
VP | 641K | Eric Brown, 52
Group
VP, Prepared Foods | -- | David Dickson, 55
Group
VP, International and Corp. Devel. | -- | | Dollar amounts are as of 31-Oct-1998 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
|
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